French group Rexel turns down QXO's $9.4B acquisition offer [Seeking Alpha]
REXEL SA UNSP/ADR (RXEEY)
NASDAQ:AMEX Investor Relations:
rexel.com/en/finance/investors
Company Research
Source: Seeking Alpha
Rexel ( OTCPK:RXLSF said that the offer "significantly undervalued the company and did not adequately reflect its growth potential under its strategic plan, PowerUP 2025." The deal totaled ~€8.46B (~$9.4B). Rexel ( OTCPK:RXLSF ) is a France-based company specializing in the distribution of electrical, heating, lighting and plumbing equipment. QXO ( QXO ) led by billionaire Brad Jacobs said that it had no immediate plans to submit a revised bid, a source familiar with the matter told Reuters. Entrepreneur Brad Jacobs invested $1B with other investors in SilverSun Technologies and renamed it QXO in June 2024 ( QXO Rexel ( OTCPK:RXLSF stock price traded ~10% higher to €25.24 on the European exchange. Recommended For You More Trending News Recommended For You More Trending News Related Stocks Trending Analysis Trending News
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News
- Zilliant Establishes European Customer Advisory Board to Enhance Regional Market Insights [Yahoo! Finance]Yahoo! Finance
- Rexel: Q3 2024 SalesGlobeNewswire
- QXO no longer bidding for France's Rexel, considering other US deal - report Oct. 04, 2024 11:57 AM ET By: Joshua Fineman , SA News Editor [Seeking Alpha]Seeking Alpha
- Rexel rejects undervalued QXO bid, shares jump [Yahoo! Finance]Yahoo! Finance
- Rexel: Rexel Board of Directors rejects an unsolicited preliminary proposal from QXO [Yahoo! Finance]Yahoo! Finance